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West Virginia Legislation Would Eliminate State HTC Caps, Allow Phased Rehabilitations

Wednesday, February 23, 2022 - 12:00PM

A bill introduced in the West Virginia House of Representatives would remove the transaction cap and annual statewide cap for the state historic tax credit (HTC) and would allow phased rehabilitations. H.B. 4568 would eliminate the current $10 million transaction cap for state HTCs as well as the current $30 million annual statewide cap. The bill would also allow phased rehabilitations consistent with federal HTC phased rehabilitations. With no annual state cap, the legislation would remove all standards by which the state prioritizes HTC projects for the credits.

The Novogradac Introduction to Historic Tax Credits booklet explains the basics of the HTC incentive.

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